Marx Gore Chartered Accountants (S.A.) - CIPC Compliance Checklist January 2020
We would like to bring the following very important and high-risk change to your attention.

CIPC (Companies and Intellectual Property Commission) has introduced a Compliance Checklist to be completed as part of the Annual Return submission for all Companies (Proprietary Limited, Incorporated, State-owned and Non-Profit). This process is MANDATORY from 01 January 2020 and must be completed before submitting your annual return.

CIPC has further advised that they will utilise the Checklist to monitor and regulate compliance of the mandatory requirements of the Companies Act and if trends of non-compliance appear, they will act accordingly.

Non-compliance may lead to a formal investigation by the CIPC. The outcome of such an investigation may lead to the issuance of a Compliance notice and other actions which may be imposed by other regulators. Companies that fail to respond to a compliance notification and remain non-complaint for a duration of time, can be issued with an ADMINISTRATIVE FINE for an amount not exceeding the greater of:

• 10% of turnover for the period during which the Company failed to comply with the compliance notice; and
• The Minister may make a regulation prescribing the maximum amount of an administrative fine, which amount must not be less then R1 000 000 (one million Rand)

We have prepared this form in order to facilitate the submission of your entity's compliance checklist on your behalf. Kindly complete all mandatory fields by the due date as indicated on our email correspondence in order for us to attend to your submission. Please note that the correctness of the information provided in this form as well as the timely submission thereof to us is the sole responsibility of the entity's Directors. Accordingly we are no liable for any incorrect information provided or for any penalties resulting from the late or incomplete submission of this form to us.
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